Gavel Money

What you need to know about the Blue Cross Blue Shield Class Action Lawsuit

Authored by Bukaty Companies on April 30, 2021

Following an eight-year class action antitrust legal battle, the Blue Cross Blue Shield (BCBS) Association and its affiliates agreed to a $2.67 billion settlement. The lawsuit charged that the various Association plans agreed not to compete with each other and to limit competition among themselves in selling health insurance and administrative services for health insurance. While BCBS and its affiliates have denied allegations of wrongdoing, they have agreed to make changes in the way they do business to increase opportunities for market competition.

In recent weeks, those impacted by the settlement may have been notified by postcard, paper form or email (notice@BCBS settlement.com) of their right to file a claim in the class action lawsuit. Notices should be provided no later than May 31, 2021. You may be eligible to receive payment if you have been enrolled in a BCBS individual, group or a self-funded plan between February 2008 and October 2020. For more information visit the BCBS settlement website.

1. I was enrolled in BCBS coverage during the dates noted, what are my options?
As a class member, you have four options:
1. File a claim as part of the settlement. You’ll need your Unique ID provided in the email, paper form or postcard you received.
2. Opt out of the settlement and maintain the ability to file a separate lawsuit.
3. Object to the settlement in a letter to the court.
4. Do nothing and receive no payment.

 

2. If I file a claim, what type of settlement can I expect?
After attorney’s fees and administrative expenses, the Net Settlement Fund is estimated to be $1.9 billion. Individual payment amounts depend on several factors including the number of valid claims filed, the premiums you paid to one or more of the Settling Defendants during the class period, and whether your insurance was fully insured or self-funded. If the total payment for any claimant is equal to or less than $5.00, no payment will be made to the claimant. No distributions will be made until there is a final resolution of all determinations and disputes that could potentially impact the claims payments.

3. Is there a deadline to file a claim?
To receive a payment, you must file a claim form online or by mail postmarked by November 5, 2021. You can download a claim form and mail to
Blue Cross Blue Shield Settlement
                                    c/o JND Legal Administration
                                    PO Box 91390
                                    Seattle, WA 98111

For more information contact your Bukaty benefits consultant.

 

Blog Category: Compliance

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